Former FIFA VP Webb loses appeal against $1M bribery fine

ZURICH — Former FIFA vice president Jeffrey Webb has lost his appeal against a 1 million Swiss franc ($1.05 million) fine imposed by the soccer body's ethics committee.

FIFA says its appeals committee ruled the amount "was adequate." Webb did not appeal his life ban from soccer.

Webb pleaded guilty in 2015 to racketeering, wire fraud and money laundering conspiracies in the U.S. Department of Justice's sprawling investigation of bribery and corruption linked to international soccer.

Webb, a Cayman Islands banker, already agreed to forfeit more than $6.7 million. His sentencing is set for Sept. 7 in Brooklyn federal court.

FIFA has claimed $2 million from U.S. authorities in restitution for Webb's corruption.

He was president of the CONCACAF regional soccer body when he was arrested in Zurich in May 2015.

Bombardier Inc. to partner with Airbus on C...

Oct 17, 2017

Canadian plane maker Bombardier has a sold a majority stake in its C Series passenger jet business...

Garber talks MLS expansion, relocation in annual...

Dec 8, 2017

MLS Commissioner Don Garber says it's 'conceivable' new expansion team could join league before...

Canadian theater founder suspended amid...

Jan 4, 2018

A prominent figure in the Canadian arts world has been suspended by the theater company he...

The Latest: Indigenous leaders begin...

Mar 10, 2018

Thousands of demonstrators are marching Saturday morning to speak out against a pipeline expansion...

Lego looks wobbly after building itself high

Sep 5, 2017

Danish toy maker Lego says it will cut 1,400 jobs, or about eight percent of its global workforce,...

Financial Markets

Market Sanctum is one of the world’s leading news sources for the currency trading community. Our analysts report on the latest changes in the current market, providing in-depth analysis.

Contact us: sales[at]marketsanctum.com